Business News

Veritas Capital, Elliott to buy Athenahealth for $5.7 billion

(Reuters) - Private equity firm Veritas Capital and hedge fund Elliott Management are buying Athenahealth Inc (ATHN.O) for about $5.7 billion, the U.S. healthcare software maker said on Monday. The all-cash deal values Athenahealth at $135 per share, representing a premium of 12.2 percent to the stock’s closing price on Friday. Reuters reported on Sunday that Athenahealth had agreed to a takeover. Athenahealth had ...

12 Nov 9:09 PM 0 Read More...

Wall Street falls; Apple, Goldman Sachs shares under pressure

NEW YORK (Reuters) - Wall Street’s major indexes fell on Monday, with the S&P 500 weighed by technology and financial stocks as shares of Apple Inc (AAPL.O) and Goldman Sachs Group Inc (GS.N) came under pressure. Apple shares fell 4.7 percent after several suppliers to the company, including Lumentum Holdings Inc (LITE.O), whose components power the iPhone’s Face ID technology, cut their forecasts. Apple’s ...

12 Nov 9:09 PM 0 Read More...

U.S. crude weakens after Trump calls on OPEC to keep output

NEW YORK (Reuters) - U.S. crude prices turned negative as U.S. President Donald Trump said he hoped there would be no oil output reductions, after Saudi Arabia said OPEC was considering cutting supply next year, citing softening demand. U.S. benchmark West Texas Intermediate crude CLc1 fell 18 cents a barrel to trade at $60.01 a barrel by 2:24 p.m. EST (1724 GMT). If the decline holds, the contract CLc1 is on track f...

12 Nov 9:09 PM 0 Read More...

Cosmetics giant Coty replaces CEO, chairman

(Reuters) - Coty Inc (COTY.N) replaced its chief executive officer and chairman on Monday, days after the cosmetics giant spooked investors by saying it was grappling with a supply chain issues that could hurt its performance this fiscal year. Camillo Pane is stepping down as Coty’s CEO due to family reasons and will be replaced by Pierre Laubies, the former CEO of Dutch coffee firm Jacobs Douwe Egberts (JDE), Coty...

12 Nov 4:04 PM 0 Read More...

‘King dollar’ benefits from European risks, growth fears

LONDON (Reuters) – The dollar surged to nearly 17-month highs on Monday against a basket of major currencies as investors sought out the highly liquid and high-yielding currency against a backdrop of global growth worry and rising political risk in Italy and Britain. A 2 percent oil price jump initially supported European equities but the gains fizzled rapidly as fears grew for Italian lender Carige whose sh...

12 Nov 1:07 PM 0 Read More...

'King dollar' benefits from European risks, growth fears

LONDON (Reuters) - The dollar surged to nearly 17-month highs on Monday against a basket of major currencies as investors sought out the highly liquid and high-yielding currency against a backdrop of global growth worry and rising political risk in Italy and Britain. A 2 percent oil price jump initially supported European equities but the gains fizzled rapidly as fears grew for Italian lender Carige whose shares were...

12 Nov 10:59 AM 0 Read More...

SAP snatches sentiment tracker Qualtrics from verge of IPO for $8 billion

FRANKFURT (Reuters) - German business software company SAP (SAPG.DE) has agreed to buy Qualtrics International for $8 billion in cash, pre-empting a planned stock market listing by the U.S.-based company which specializes in tracking online sentiment. The deal will help Europe’s most valuable tech firm strengthen its customer relationship management (CRM) software offering, a focus of Chief Executive Bill McDermott...

12 Nov 10:59 AM 0 Read More...

China's Ruyi, pretender to LVMH's throne, plots more 'affordable luxury' deals

HONG KONG/BEIJING (Reuters) - China’s acquisitive apparel firm Shandong Ruyi is targeting more global deals involving “affordable luxury” brands, under a push to establish the first high-end Chinese fashion empire to eventually challenge behemoth LVMH (LVMH.PA). Its chairman, Qiu Yafu, who has led a spate of deals buying tailors Gieves & Hawkes to Swiss luxury brand Bally, told Reuters on Monday the company...

12 Nov 10:59 AM 0 Read More...

Japan's SoftBank steps closer to transformation with mammoth mobile IPO

TOKYO (Reuters) - SoftBank Group Corp (9984.T) has won approval to conduct a 2.4 trillion yen ($21.04 billion) initial public offering (IPO) of its domestic telecoms business, in a deal that will seal the group’s transformation into a top global technology investor. The IPO will be one of the biggest ever worldwide, and will provide the group with funds to pay down debt and continue placing big bets on innovations ...

12 Nov 10:59 AM 0 Read More...

SAP to buy customer sentiment tracker Qualtrics for $8 billion

FRANKFURT (Reuters) - Germany’s SAP (SAPG.DE) said on Sunday it was buying Qualtrics International Inc for $8 billion in cash, pre-empting a planned stock market listing by the U.S.-based company that specializes in surveying consumers online. The agreed deal, SAP’s biggest since it bought travel and expense management firm Concur in 2014 for $8.3 billion, backs Chief Executive Bill McDermott’s expansion into C...

12 Nov 5:56 AM 0 Read More...